MasterCard (NYSE:MA) today announced it has entered into an agreement to acquire the Payment Gateway Services business of Transaction Network Services (TNS). The business will join DataCash in expanding MasterCard's global payment gateway solutions.
“The acquisition of TNS Payment Gateway Services reflects a continued enhancement of our capabilities to support our partners as they establish and solidify their presence in both the digital and physical worlds today and into the future.”
This transaction is anticipated to close in the fourth quarter of 2014.
With the addition of TNS Payment Gateway Services, DataCash will be able to drive additional growth of the eCommerce category – and use of MasterCard-branded products – in North America and Latin America. The combined offering will also expand the support for the next generation of online and mobile payments solutions through a quick integration with existing merchant and acquirer platforms, while enhancing DataCash and MasterCard’s fraud monitoring and mitigation capabilities.
“Digital commerce continues to be a key focus for MasterCard and the industry as a whole,” said Andrea Scerch, president, DataCash. “The acquisition of TNS Payment Gateway Services reflects a continued enhancement of our capabilities to support our partners as they establish and solidify their presence in both the digital and physical worlds today and into the future.”
TNS has been a trusted provider to the payments industry for more than 20 years. Its Payments Gateway Services is comprised of two core businesses – an eCommerce gateway and a card-present gateway.
“At TNS, we have created a feature-rich, flexible payment gateway business with best in class infrastructure and availability,” said Mike Keegan, co-chief executive officer at TNS. “Combining this business with DataCash’s offering will create a truly differentiated global digital commerce solution with increased development and distribution capabilities. TNS looks forward to continuing to work with MasterCard and DataCash to help their customers grow and expand their business.”
Terms of the agreement were not disclosed.